The Fed chairman's recent speech (Jackson Hole) insinuates an extremely hawkish approach - they're going to aggressively raise interest rates to tackle inflation. The new student loan waive-off will further aggravate inflation, urging for more stringent tightening (Chairman Powell said to expect more pain).
What does this mean? Well, I think that equity markets will continue to tank. Furthermore, a 3rd quarter of negative growth would entail FUD across markets: I don't think that we bottomed out yet.
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